Real Estate
La Plata County April Numbers
We have the latest La Plata County residential real estate transactions this week. With 93 total sales, it was a strong month. There were more sales than April of last year, as well as the highest number of sales so far in 2019! Year to date, we are at 285 total sales, compared to 296 total sales through this time last year—slightly lower, but not a drastic difference. The median sales price is $371,200. The 2018 median sales price...
Newer homes and furniture burn faster
Newer homes and furniture burn faster, giving you less time to escape a fire. Research shows that 30 years ago, you had about 17 minutes to escape a house fire. Today it’s down to less than 3 minutes (mobile homes only 90 seconds). The reason: newer homes and the furniture inside them actually burn faster. A lot faster! We think advancements have been made in fire-retardant materials, but in fact our “disposable” lifestyle of...
Real Estate in the News
For our communication this week, we want to share a few of the recent headlines in national real estate news to give our clients a pulse on the national market. Mortgage Rates Rose Again Last Week: Mortgage rates have had an interesting year. Last week they rose again for the fourth straight week; however, they remain lower than this time a year ago. For the week ending April 25, “30-year fixed-rate mortgages: averaged 4.20 percent,...
Consider a 1031 Exchange to invest in real estate
The term 1031 Exchange is defined under section 1031 of the IRS Code. This strategy allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long another “like-kind property” is purchased with the profit gained by the sale of the first property and the funds are temporarily held by a Qualified Exchange Intermediary . To receive the full benefit of a 1031 exchange, your replacement property...
Tips to Go Green at Home
This past Monday, the world celebrated Earth Day, which is the perfect time to consider some green living tips for our homes. According to the latest REALTORS & Sustainability report, 69% of real estate professionals say promoting energy efficiency in listings is “very” or “somewhat valuable” in a home sale (https://magazine.realtor/daily-news/2019/04/22/6-ways-to-go-green-this-earth-day). While there is a large variety of actions...
NAR 2019 Profile of Home Staging Highlights
The National Association of Realtors recently released its 2019 Profile of Home Staging. It contains interesting statistics and generalities for home buyers and sellers, and represents results from over 2,000 REALTORS. We wanted to share a few of the results, as they are great reminders on the benefits of home staging. 40% of buyers’ agents noted that home stating had an effect on most buyers’ view of the home. 52% noted it has an...
March La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of March. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
Picking Your Real Estate Location In Ever-Changing Durango
The population in Durango continues to grow at over one percent above the national average, and real estate is feeling the pressure. Infrastructure problems have hit the north east, according to The Journal, and work is continuing apace to develop the region. Those looking to get involved in real estate, either as an investor or home buyer, should conduct close research; between non-profit developments and new green investments,...
Durango Home & Ranch Show
Show Times Adults $5, children 12 and under are free April 27, 2019 from 10 a.m. to 5 p.m. April 28, 2019 from 10 a.m. to 3 p.m. General Information The Durango Home & Ranch show began in 1995 and is held at the La Plata County Fairgrounds in Durango, Colorado. The 2019 show dates are Saturday, April 27 and Sunday, April 28. All vendors are screened and are required to display only home-related products and services. There are...
How millennials are changing real estate
Millennials seem to influence all industries. But who are they? Who are the ones we refer to as the Millennials? They are the largest up and coming generation of the present era. The generations that are born between the 1982 and 2000 are referred to as Millennials, and around the world, they are more than 80 million in number. They have great purchasing power so they are the main factor that influences the lucrative market. The real...
March La Plata County Real Estate Numbers
This week, we have the month-end numbers for La Plata County residential real estate for the month of March. With 71 total sales, we are only two sales behind March of last year. With 192 total sales, we are still slightly behind last year at this time, which had 210 total sales. The median sales price is $365,000, which is certainly a strong historic median sales price, but still behind the 2018 year-end median sales price....
Experts Tap Tourist Season to Boost Real Estate Sales
The state of Colorado has always enjoyed a positive reputation for being a prime real estate location. In recent years, however, an odd trend has been developing. Numbers of home sales in Durango slipped by 3.5% in 2018 yet were sold for more, according to the Durango Area Association of Realtors. Experts seem to believe that the incoming tourist season can help to boost the sales numbers further. Durango’s Tourist Havens A recent...
Learn About Preparing Your Home for Wildfires
You may not be able to control the weather or the topography that contribute to wildfires, but you can control ther amount of fuelds available that can threaten your home. Learn where to start clearing fuels on your property in this short video from the Durango Fire and Rescue Authority.
Spring Selling Season Is Here! Are You Ready?
We’re officially approaching the spring selling season, which is historically one of the peak times for real estate activity for the year. We did a recent blog post about tips to get a jumpstart on putting your house on the market (see it here: https://thedurangoteam.com/spring-selling-tips-get-a-jumpstart-now/), but now it’s time to get the rest of the house ready. Spring snow starts melting fast, and we will see an uptick in...
How To Make Your Durango Rental Beat The Competition
How To Make You Durango Rental Beat The Competition Durango properties are hotting up, with 194 new apartments ready for their grand opening in Escalante Drive. For landlords, this is the prime opportunity to get their investments off the ground and lure in the ideal tenants. With so many rental options, however, competition is tight,and landlords will need to ensure they have all the boxes ticked plus a little extra to ensure they...
Highlights from the 2019 Wells Group Forecast
Last week was our annual Wells Group Forecast, and in case you missed it, we wanted to share a few of the highlights. First, below are some of the predictions heading into the 2019 La Plata County real estate year. We predict it will be a similar real estate market in 2019 that we saw in 2018. Interest rates may affect affordability for some buyers, and as we’ve mentioned in the last few weeks, the year has had a slower start due to a...
County Emergency Officials Plan for Spring Floods
Find out what emergency agencies are doing to prepare for possible spring flooding from this year’s snowfall. Snowpack was about a 130% of average.
February La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of February. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
La Plata County Residential Sales for February
This week we have the latest La Plata County residential real estate numbers for the month of February. There were 56 total sales, which is a lower amount than the last couple of February results for La Plata County; however, this number falls in line with several of the years prior. Year to date, there have been 120 total sales compared to 137 total sales at this time last year. The median sales price is $365,750, which is lower than...
Spring Driving Safety Tips in Durango
Spring Driving Safety Tips in Durango Spring in southwestern Colorado brings warmer temperatures, but also more precipitation and water as snow melts. Although winter is best known for its treacherous driving conditions with snow, ice, and slush on the road, maneuvering your car in spring can equally become demanding. There are many possible road challenges and conditions such as unexpected weather changes and increased traffic that...
Featured Real Estate
Jim Wotkyns – Real Estate Blog
- D&SNG Railroad is rolling from Durango to Silverton! May 10, 2019
- Durango area GOLF COURSES tee up for the summer May 7, 2019
- Newer homes and furniture burn faster April 29, 2019
- Durango is positioned for a great summer tourist season! April 24, 2019
- Consider a 1031 Exchange to invest in real estate April 22, 2019